Customer Experience in Banking – Thematic Research

Powered by

All the vital news, analysis, and commentary curated by our industry experts.

Customer Experience in Banking Market Overview

Customer experience is about pragmatic trade-offs, particularly at large incumbent banks operating amid the extraordinary operational demands of COVID-19. Providers cannot do everything. They must prioritize the intersection of what they can do – on time and within budget – and what customers want.

The customer’s perception of their provider the sum of all interactions has come into sharp focus in these last 12 months. As firms like Apple and Amazon have demonstrated, real value resides not just in the products and services a company provides but in how it provides them, especially when the economics of that product decline – as in a low-interest rate environment – and when the costs of “bad” experiences increase, with customers operating under conditions of acute life stress.

Customer Experience in Banking: Key Trends

The key trends that are associated with the customer experience theme can be classified into three categories: technology trends, macroeconomic & political trends, and regulatory trends.

  • Technology trends – Some of the key technology trends impacting the customer experience theme include real-time customer relationship management using alternative data sets, machine learning algorithms delivering personalization at scale and cost, alternative reality (AR & virtual reality (VR), and biometrics and AI-enabled security.
  • Macroeconomic trends – The key macroeconomic & political trends that will shape the customer experience theme are UX is about cost-cutting and right channeling, UX as an ontological exercise, UX amid ESG imperatives, and UX amid COVID has increased the size of the prize in moments of truth.
  • Regulatory trends – Some of the key regulatory trends impacting the customer experience theme include growing regulatory concern around “addictive” financial applications, focus on “strategic” compliance to achieve customer experience goals, proactive approach to transparency, regulatory arbitrage, and the impact on customer experience, and fintech partnerships and service-level agreements.

For more insights on key trends shaping the customer experience in banking theme, download a free report sample

Customer Experience in Banking – Industry Analysis

Customer satisfaction” is the leading objective influencing ICT investments. It is a core component of customer experience and focuses on the customer’s cognitive evaluation of the overall interaction.

The customer experience in banking industry analysis also covers:

  • Mergers and acquisitions
  • Timeline

Customer Experience in Banking - Value Chain Analysis

GlobalData’s customer experience value chain consists of three segments: core banking, middleware, and front-end channels.

Middleware: APIs have become the great enablers of digital transformation. Rather than optimize business structures, processes, and technologies for anyone’s one-to-one partnership, public APIs enable banks to optimize for all possible partnerships. This brings economies of scale and scope to partnering.

Customer Experience Value Chain Analysis

Customer Experience Value Chain Analysis

For more insights on the customer experience value chains, download a free report sample

Leading Retail Banks Associated with the Customer Experience Theme

Some of the leading retail banks associated with the customer experience theme are Bank of America, BBVA, Citibank, Cross River Bank, DBS, and Goldman Sachs.

To know more about the leading retail banks associated with the customer experience theme, download a free report sample

Leading Technology Vendors Associated with the Customer Experience Theme

Some of the leading technology vendors making their mark within the customer experience theme are Amazon, Backbase, Finastra, FIS, Infosys, and Mambu.

To know more about the leading technology vendors associated with the customer experience theme, download a free report sample


Banking Sector Scorecard

At GlobalData, we use a scorecard approach to predict tomorrow’s leading companies within each sector. Our sector scorecards have three screens: a thematic screen, a valuation screen, and a risk screen. The banking sector scorecard has two screens:

  • The thematic screen tells us who are the overall leaders in the 10 themes that matter most, based on our thematic engine.
  • The valuation screen ranks our universe of companies within a sector based on selected valuation metrics.

Banking Sector Scorecard – Thematic Screen

Banking Sector Scorecard – Thematic Screen

To know more about the sector scorecards, download a free report sample

Customer Experience in Banking Market Overview

Report Pages 39
Regions Covered Global
Key Trends Technology Trends, Macroeconomic & Political Trends, and Regulatory Trends
Value Chains Core Banking, Middleware, and Front-End Channels
Leading Retail Banks Bank of America, BBVA, Citibank, Cross River Bank, DBS, and Goldman Sachs
Leading Technology Vendors Amazon, Backbase, Finastra, FIS, Infosys, and Mambu

Key Highlights

  • GlobalData’s executive survey of technology decision-makers at banks globally indicates that “customer satisfaction” is the leading objective influencing ICT investments.
  • Despite incumbent banks’ focus on customer and user experience, the number of US and UK customers that believe digital-only banks offer more advanced banking and have better services increased in 2020 compared to 2018.
  • UK banks experienced a net reduction in detractors across 2020 versus 2018, consistent with a flight to quality amid ongoing market uncertainties.

Reasons to Buy

  • Identify key players within the customer experience value chain.
  • Understand key technology, macroeconomic, political, and regulatory trends within the customer experience.
  • Learn about priority customer experience investment areas for incumbent banks, supported by case study insight.

Ant Group
Goldman Sachs
DBS Bank
Bank of America
Bank of America
Wells Fargo
Capital One

Table of Contents

| Contents

Executive summary


Thematic briefing


Industry analysis

Value chain


Sector scorecards


Further reading

| Our thematic research methodology

| About GlobalData

| Contact Us

Frequently asked questions

Customer Experience in Banking – Thematic Research thematic reports
Currency USD

Can be used by individual purchaser only


Can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Undecided about purchasing this report?

Enquire Before Buying Request a Free Sample

Get in touch to find out about multi-purchase discounts
Tel +44 20 7947 2745

Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.

Sample Report

Customer Experience in Banking – Thematic Research was curated by the best experts in the industry and we are confident about its unique quality. However, we want you to make the most beneficial decision for your business, so we offer free sample pages to help you:

  • Assess the relevance of the report
  • Evaluate the quality of the report
  • Justify the cost

Download your copy of the sample report and make an informed decision about whether the full report will provide you with the insights and information you need.

Below is a sample report to understand what you are buying

See what our customers are saying

“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.

GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”

Business Intelligence & Marketing Manager, SAL Heavy Lift

“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”

Market Analyst & Management, Liebherr-Werk

Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.

Head of Key Accounts, Saab AB

Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.

Marketing Intelligence Manager, Portugal Foods

Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.

I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.

I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.

Head of Customer Insight and Research, Standard Chartered

“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.

Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”

Head of Consumer Sensory Insights, Givaudan

GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise.  The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.

I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.

One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.

Senior Account Manager, TSYS
Financial Services
France Life Insurance Market Size and Trends by Line of…
$3,999 | June 2024
Financial Services
Wealth Management Trends and Themes in 2024
$5,250 | May 2024
Financial Services
Peru Insurance Industry - Key Trends and Opportunities to 2028
$1,450 | May 2024
Go even deeper with GlobalData Intelligence Center

Every Company Report we produce is powered by the GlobalData Intelligence Center.

Subscribing to our intelligence platform means you can monitor developments at Customer Experience in Banking – Thematic Research in real time.

  • Access a live Customer Experience in Banking – Thematic Research dashboard for 12 months, with up-to-the-minute insights.
  • Fuel your decision making with real-time deal coverage and media activity.
  • Turn insights on financials, deals, products and pipelines into powerful agents of commercial advantage.